Filing Flows › American Healthcare REIT (AHR) › Q3 2026 › vs Q3 2025
American Healthcare REIT (AHR) Q3 2026 vs Q3 2025 (year over year)
American Healthcare REIT's revenue rose $169M (+30%) from $573M in Q3 2025 to $742M in Q3 2026. The biggest changes: SHOP +$90.3M (+118%); Integrated Senior Health Campuses +$78.7M (+17%); Triple Net Leased Properties +$692K (+7%). Operating margin 22.2% against 18.5% (+3.7 pts).
American Healthcare REIT, Q3 2026: revenue $742M (+30% year over year), operating margin 22.2%, net earnings $31.2M, operating cash flow $167M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 22.2% | 18.5% | +3.7 pts |
| Net margin | 4.2% | 9.8% | -5.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Integrated Senior Health Campuses | $534M | $455M | $78.7M | +17% |
| SHOP | $167M | $76.6M | $90.3M | +118% |
| Outpatient Medical | $30.7M | $31.2M | −$515K | -2% |
| Triple Net Leased Properties | $10.4M | $9.7M | $692K | +7% |
| Revenue | $742M | $573M | $169M | +30% |
| Operating profit | $165M | $106M | $59.0M | +56% |
| Costs & expenses | $577M | $467M | $110M | +24% |
| Pre-tax earnings | $32.3M | $35.5M | −$3.3M | -9% |
| Other expense, net | $133M | $70.3M | $62.3M | +89% |
| Net earnings | $31.2M | $55.9M | −$24.7M | -44% |
| Minority interests | $302K | $712K | −$410K | -58% |
| Income tax | $740K | −$21.1M | $21.8M | — |
| Depreciation & amortization | $90.9M | $49.2M | $41.7M | +85% |
| Share-based compensation | $9.3M | $3.4M | $5.9M | +171% |
| Working capital & other | $35.5M | −$1.4M | $36.9M | — |
| Operating cash flow | $167M | $107M | $59.7M | +56% |
Questions
How much did American Healthcare REIT's revenue grow year over year in Q3 2026?
American Healthcare REIT's revenue rose $169M (+30%) from $573M in Q3 2025 to $742M in Q3 2026.
What drove American Healthcare REIT's revenue change in Q3 2026?
SHOP +$90.3M (+118%); Integrated Senior Health Campuses +$78.7M (+17%); Triple Net Leased Properties +$692K (+7%).